The Internal Revenue Service’s next Tax Talk Today Webcast on Tuesday the 9th of September will focus on “EITC Due Diligence - It’s Your Responsibility," it has been announced.
Practitioners who prepare Earned Income Tax Credit (EITC) claims must meet four due diligence requirements.
For example, they must ask the required questions on Form 8867, Paid Preparer's Earned Income Credit Checklist, and probe further when information seems incorrect, inconsistent or incomplete.
Failure to meet the due diligence requirements can result in a USD100 penalty for each failure.
The broadcast will be a good opportunity for return preparers to review the requirements and get the latest information from the IRS executive and technical staff responsible for this USD43bn program.
Tax Talk Today is a Web cast aimed at educating tax and payroll professionals on the most current and complex tax issues. Tax professionals are encouraged to watch and submit questions.
To access the Webcast at no charge, viewers can register online. Tax professionals in need of continuing education credits are eligible to receive one CPE credit by viewing the Web cast.
Archived shows are available on the site also.
The next show is on Tuesday the 4th of November 2008, when the topic will be “Preparing for the New Form 990.”
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